Delaware STEM Talent Advancement and Retention (STAR) Fund
About the STAR Fund
Every year, recent graduates face a pivotal choice: where to launch their careers. Managed by the Delaware Division of Small Business in collaboration with BioConnect DE, the Delaware STEM Talent Advancement and Retention (STAR) Fund provides a compelling reason to start that journey in Delaware. By offering financial support for student loan payments, this initiative connects talented individuals across the state with opportunities in science, technology, engineering, and mathematics (STEM) fields.
Supported by state and private funding, the program offers eligible participants up to $6,000 to help reduce their student debt. Graduates from any accredited college or university—including Delaware Technical Community College, Delaware State University, and the University of Delaware—are encouraged to apply and take the next step in their professional journey right here in Delaware.
Who Can Apply
To be eligible, applicants must meet the following criteria:
- Hold an associate, bachelor’s, graduate, or post-graduate STEM degree from an accredited postsecondary institution.
- Be employed full-time (35+ hours per week) by a Delaware-based employer. This includes companies with:
- Principal place of business is in Delaware.
- At least 51% of employees work at a Delaware-based location.
- Registered to conduct business in Delaware and reported Delaware tax liability the previous year.
- Work in one or more eligible fields:
- Life, natural, or environmental sciences
- Computer information or software technology
- Advanced mathematics or finance
- Engineering
- Medical device technology
Preference is given to applicants who are permanent Delaware residents or who attended a Delaware college or university.
How to Apply
Applicants will need to provide the following documentation:
- Completed Application Form: Available through the application portal.
- Employer Endorsement Form: Confirming full-time employment in Delaware.
- Resume: Including current position and employer details.
- Transcripts: Showing degree(s) earned. Unofficial transcripts are accepted but must display coursework, grades, GPA, and institution name.
- Loan Statements: Twelve months of statements and proof of payment to document loan expenses.
- Loan Details: Information about each loan account, including:
- Account holder and loan provider details
- Loan terms, payment schedule, and interest rate
- Evidence of participation in other loan repayment programs, if applicable
Selection Process
Applications are evaluated by the Fund Committee, which includes representatives from the Delaware Division of Small Business, BioConnectDE, and experts in STEM hiring and workforce development.
The committee reviews applications on a competitive, name-blind basis. Selected participants receive an award letter via email and must accept the award within 30 days by countersigning and returning the letter.
Award amounts are based on the degree level:
- Associate degree: Up to $1,000
- Bachelor’s degree: Up to $4,000
- Graduate/post-graduate degree: Up to $6,000
Participants must submit annual reports to confirm continued eligibility and loan repayment status.
Benefits for Participants
Award amounts for education loan expenses:
- Up to $1,000 for an associate degree
- Up to $4,000 for a bachelor’s degree
- Up to $6,000 for a graduate or post-graduate degree
Award amounts are available for up to 4 consecutive years but cannot exceed the actual loan expenses incurred.
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